Cactus (NYSE:WHD) Reaches New 1-Year High - Here's What Happened

Cactus, Inc. (NYSE:WHD - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $72.69 and last traded at $71.9890, with a volume of 963945 shares changing hands. The stock had previously closed at $71.07.

Wall Street Analyst Weigh In

WHD has been the topic of several analyst reports. Stifel Nicolaus upped their price objective on Cactus from $68.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Piper Sandler lifted their target price on Cactus from $72.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Cactus from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, June 11th. Wall Street Zen raised Cactus from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup upped their price target on Cactus from $65.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, June 18th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.20.

Cactus Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.59 and a quick ratio of 1.81. The business's 50 day moving average price is $56.64 and its 200 day moving average price is $55.06. The stock has a market capitalization of $5.77 billion, a P/E ratio of 61.53, a price-to-earnings-growth ratio of 2.55 and a beta of 1.36.

Cactus (NYSE:WHD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.29. Cactus had a net margin of 6.01% and a return on equity of 16.66%. The company had revenue of $449.53 million for the quarter, compared to the consensus estimate of $400.82 million. During the same quarter in the prior year, the firm earned $0.66 earnings per share. The firm's revenue for the quarter was up 64.3% compared to the same quarter last year. Sell-side analysts forecast that Cactus, Inc. will post 3.07 EPS for the current year.

Cactus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. This is a positive change from Cactus's previous quarterly dividend of $0.14. Cactus's payout ratio is currently 47.86%.

Insider Transactions at Cactus

In other news, CEO Steven Bender sold 25,000 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.65, for a total value of $1,691,250.00. Following the transaction, the chief executive officer directly owned 99,241 shares in the company, valued at $6,713,653.65. This trade represents a 20.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen Tadlock sold 38,455 shares of Cactus stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.80, for a total value of $2,453,429.00. Following the completion of the sale, the chief executive officer directly owned 43,178 shares of the company's stock, valued at $2,754,756.40. The trade was a 47.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 263,455 shares of company stock valued at $16,261,764 over the last 90 days. 12.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. VELA Investment Management LLC grew its position in Cactus by 24.2% during the fourth quarter. VELA Investment Management LLC now owns 146,042 shares of the company's stock valued at $6,671,000 after buying an additional 28,493 shares during the period. Paradice Investment Management LLC raised its position in Cactus by 16.1% in the fourth quarter. Paradice Investment Management LLC now owns 675,932 shares of the company's stock worth $30,877,000 after acquiring an additional 93,714 shares during the period. UBS Group AG boosted its stake in shares of Cactus by 81.8% during the 4th quarter. UBS Group AG now owns 380,513 shares of the company's stock worth $17,382,000 after acquiring an additional 171,223 shares during the last quarter. Vest Financial LLC boosted its stake in shares of Cactus by 24.7% during the 4th quarter. Vest Financial LLC now owns 134,568 shares of the company's stock worth $6,147,000 after acquiring an additional 26,669 shares during the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in shares of Cactus during the 1st quarter worth $41,895,000. 85.11% of the stock is owned by hedge funds and other institutional investors.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers. Its products are sold and rented primarily for onshore unconventional oil and gas wells for drilling, completion, and production phases of the wells.

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